Sompo Asset Management Co. Ltd. Purchases 14,870 Shares of Intel Co. (NASDAQ:INTC)

Sompo Asset Management Co. Ltd. boosted its position in shares of Intel Co. (NASDAQ:INTC) by 9.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 165,975 shares of the chip maker’s stock after acquiring an additional 14,870 shares during the quarter. Sompo Asset Management Co. Ltd.’s holdings in Intel were worth $5,140,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Intel by 0.9% during the first quarter. Vanguard Group Inc. now owns 389,098,435 shares of the chip maker’s stock worth $17,186,478,000 after purchasing an additional 3,310,528 shares in the last quarter. Capital International Investors boosted its stake in Intel by 16.0% in the 1st quarter. Capital International Investors now owns 112,093,582 shares of the chip maker’s stock worth $4,951,174,000 after purchasing an additional 15,475,631 shares during the period. Primecap Management Co. CA raised its position in shares of Intel by 2.2% during the second quarter. Primecap Management Co. CA now owns 77,822,587 shares of the chip maker’s stock valued at $2,410,166,000 after buying an additional 1,697,550 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Intel by 6.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 39,841,750 shares of the chip maker’s stock worth $1,759,811,000 after buying an additional 2,457,243 shares in the last quarter. Finally, Wellington Management Group LLP boosted its position in shares of Intel by 7.3% during the fourth quarter. Wellington Management Group LLP now owns 37,080,015 shares of the chip maker’s stock worth $1,863,271,000 after acquiring an additional 2,515,978 shares during the last quarter. Hedge funds and other institutional investors own 64.53% of the company’s stock.

Insider Buying and Selling

In other Intel news, CEO Patrick P. Gelsinger purchased 12,500 shares of the stock in a transaction on Monday, August 5th. The stock was acquired at an average price of $20.16 per share, with a total value of $252,000.00. Following the completion of the acquisition, the chief executive officer now owns 37,975 shares in the company, valued at $765,576. The acquisition was disclosed in a filing with the SEC, which is available at this link. 0.04% of the stock is owned by company insiders.

Intel Trading Up 3.3 %

Shares of NASDAQ INTC opened at $21.84 on Friday. The business has a fifty day moving average price of $23.67 and a 200 day moving average price of $30.98. Intel Co. has a 1-year low of $18.51 and a 1-year high of $51.28. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.59 and a quick ratio of 1.24. The stock has a market capitalization of $92.97 billion, a P/E ratio of 22.75 and a beta of 1.03.

Intel (NASDAQ:INTC) last issued its quarterly earnings data on Thursday, August 1st. The chip maker reported $0.02 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.10 by ($0.08). Intel had a return on equity of 1.78% and a net margin of 1.77%. The firm had revenue of $12.80 billion during the quarter, compared to analysts’ expectations of $12.92 billion. During the same period in the previous year, the firm earned ($0.05) EPS. The firm’s quarterly revenue was down .8% on a year-over-year basis. Equities research analysts expect that Intel Co. will post -0.47 EPS for the current fiscal year.

Intel Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Sunday, September 1st. Investors of record on Wednesday, August 7th were paid a dividend of $0.125 per share. The ex-dividend date of this dividend was Wednesday, August 7th. This represents a $0.50 annualized dividend and a yield of 2.29%. Intel’s dividend payout ratio (DPR) is 52.08%.

Analyst Ratings Changes

A number of analysts have issued reports on the stock. Benchmark downgraded shares of Intel from a “buy” rating to a “hold” rating in a report on Friday, August 2nd. Cantor Fitzgerald lowered their price target on shares of Intel from $40.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Roth Mkm reduced their price objective on Intel from $35.00 to $25.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Truist Financial decreased their price objective on Intel from $33.00 to $25.00 and set a “hold” rating on the stock in a research report on Friday, August 2nd. Finally, Argus cut Intel from a “buy” rating to a “hold” rating in a report on Tuesday, August 6th. Six equities research analysts have rated the stock with a sell rating, twenty-four have issued a hold rating and one has given a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $32.04.

Intel Profile

Intel Corporation designs, develops, manufactures, markets, and sells computing and related products and services worldwide. It operates through Client Computing Group, Data Center and AI, Network and Edge, Mobileye, and Intel Foundry Services segments. The company's products portfolio comprises central processing units and chipsets, system-on-chips (SoCs), and multichip packages; mobile and desktop processors; hardware products comprising graphics processing units (GPUs), domain-specific accelerators, and field programmable gate arrays (FPGAs); and memory and storage, connectivity and networking, and other semiconductor products.